USA: economic productivity is growing rapidly
452 sats \ 7 comments \ @TomK 8 Mar econ
The deindustrialization of Europe is ultimately bearing fruit, at least in the United States, where productivity is growing massively due to the onshoring of industrial investments.
US non-farm productivity experienced a significant uptick in the fourth quarter of 2023, reaching a seasonally adjusted annual rate of 3.2% compared to the previous quarter, as per revised calculations. Economists had projected a 3.1% increase, mirroring the initial estimate.
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I don't know how to gauge this, but presumably a lot of that growth is also due to capital flight out of China.
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Yes, a lot of capital certainly comes from China, but the capital flight from Europe alone, according to Christina Lagarde, 250 billion euros out of the eurozone last year, is enormous
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